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Plan in works to save some jobs slated to be cut at Algoma Steel: union
Laurentian Bank accepted a $1.9-billion Fairstone takeover; Algoma Steel plans layoffs for over a third of staff amid tariff losses; Hudson’s Bay charter sold for $18 million.
- Plans are in the works to save hundreds of the roughly 1,000 jobs slated to be lost at Algoma Steel Inc. in Sault Ste. Marie, Canada.
- According to the president of United Steelworkers local 2724, as many as 500 people could be back at work by the end of next year.
- The plans involve expanded capacity at Algoma through a government loan, though details are still being hammered out.
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ROBINSON: Algoma layoffs ‘unavoidable,’ lack of proactive plan by company never was
It was a sad day last week when Algoma Steel announced 1,050 layoffs effective March 23, but if we’re being honest, it shouldn’t have surprised anyone. The moment the company committed to an electric arc furnace (EAF), the writing was on the wall for the coke ovens and for the jobs attached to them. Also, the tariff wars with the United States are hardly new, so I would love it if the politicians would stow their performative shock and dismay.
·Sault Ste. Marie, Canada
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Winnipeg Free Press+13 Reposted by 13 other sources
Plan in works to save some jobs slated to be cut at Algoma Steel: union
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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Coverage Details
Total News Sources17
Leaning Left8Leaning Right1Center5Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 36%
Factuality
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